- Royalty Pharma to provide up to $500 million, including $75 million for Phase 2b funding and a Royalty Pharma option for an additional $425 million to support Teva’s anti-IL-15 candidate TEV-‘408
- TEV-‘408 is currently in Phase 1b for treatment of vitiligo and in Phase 2a for celiac disease
- Funding agreement supports Teva’s Pivot to Growth strategy to accelerate its innovative pipeline and bring treatments to patients faster
PARSIPPANY, N.J., and NEW YORK, Jan. 11, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), and Royalty Pharma plc (Nasdaq: RPRX), today announced a funding agreement of up to $500 million to accelerate the clinical development of Teva’s anti-IL-15 antibody, TEV-’408. IL-15 is a key cytokine involved in multiple immune-mediated disease pathways. Emerging Phase 1b data from the ongoing TEV-‘408 vitiligo study provides preliminary support for IL-15 as a potential therapeutic target to treat a broad variety of autoimmune conditions. Teva anticipates sharing results from TEV-‘408 trials during 2026.
“Strategic collaborations fuel innovation. This agreement with Royalty Pharma enables us to advance our science more efficiently and accelerate our pipeline to deliver meaningful solutions for patients worldwide,” said Richard Francis, Teva’s President and CEO “. Vitiligo represents a significant unmet need, with only one approved topical treatment currently available and no systemic options. We are dedicated to driving scientific progress that brings new, effective therapies to people living with chronic autoimmune diseases.”
"We are delighted to enter into this second collaboration with Teva as they advance the development of TEV-‘408,” said Pablo Legorreta, Chief Executive Officer and Chairman of the Board of Royalty Pharma. “Vitiligo is a chronic autoimmune skin disease that can have a profound emotional and psychosocial burden, yet current treatment options are insufficient. Our continued collaboration underscores Royalty Pharma’s role as a long-term, trusted partner with a focus on funding innovation in potentially transformative and practice changing therapies.”
Transaction Terms
Under the terms of the agreement, Royalty Pharma will provide Teva up to $500 million to fund ongoing development costs for TEV-‘408 in vitiligo. This is comprised of $75 million in R&D co-funding to conduct a Phase 2b study targeted to start in 2026. Based on the future results from Phase 2b in vitiligo, Royalty Pharma will have an option to provide an additional $425 million to co-fund the Phase 3 development program. If approved and launched, Teva will pay a milestone to Royalty Pharma and a royalty on worldwide net sales of TEV-’408.
About TEV-'408
TEV-‘408 is an investigational human monoclonal antibody designed to inhibit interleukin-15 (IL-15), a cytokine involved in immune-mediated pathways. TEV-’408 has a high affinity and potency (in vitro) as well as a prolonged half-life, with a planned convenient self-administration option for patients.
It is currently in Phase 1b (NCT06625177) for the treatment of vitiligo. The candidate is also being evaluated in a Phase 2a study (NCT06807463) for celiac disease and was granted Fast Track designation by the U.S. FDA in May 2025. By blocking IL-15 activity, TEV-‘408 aims to reduce the immune-mediated destruction of melanocytes (pigment producing cells) resulting in white patches on the skin characteristic of vitiligo or reduce the IL-15-driven intestinal inflammation and damage characteristic of celiac disease.
About Vitiligo
Vitiligo is a chronic autoimmune skin disease characterized by the loss of pigment-producing cells (melanocytes), resulting in white patches that can appear anywhere on the body. Affecting people of all ages, skin types, and ethnicities, vitiligo has an estimated global prevalence of 0.5% to 2% though many individuals remain undiagnosed. Beyond its physical manifestations, vitiligo can impose a significant emotional and psychosocial burden, with many people experiencing anxiety, depression, and social isolation.
Current treatment options are limited. Only one topical therapy is approved, and its use is restricted to treating up to 10% of the body surface area. As a result, many people with vitiligo remain insufficiently treated, underscoring the need for a systemic, durable, effective, and safe therapy that addresses both visible skin changes and overall quality of life.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.
About Royalty Pharma plc
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, Johnson & Johnson’s Tremfya, GSK’s Trelegy, Roche’s Evrysdi, Servier’s Voranigo, Biogen’s Tysabri and Spinraza, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, among others, and 20 development-stage product candidates. For more information, visit www.royaltypharma.com.